Lendingkart, a fintech start-up that facilitates small and medium enterprises (SMEs) in obtaining working capital loans, entered into strategic partnership with Mahindra’s SmartShift, a digitally enabled aggregator for cargo owners and transporters.
Harshvardhan Lunia, cofounder, Lendingkart said, “SmartShift deals with a large number of small-scale business owners who face hurdles in getting working capital for their business expansion. Through this, we have attempted to make working capital fund easily accessible to SmartShift SMEs.”
Through this collaboration, the Ahmedabad-based start-up will help in availing easy business loans for SMEs registered on the SmartShift platform. A part of the $16.9 billion Mahindra Group, SmartShift is a mobile app for cargo owners and transporters, enabling users to find cargo transporters based on the shipment size, weight, and other requirements.
“Through this alliance, we want to enable our customers to invest working capital into their businesses easily and strengthen our relationship with them” said Kausalya Nandakumar, CEO of SmartShift.
Most of the credit risk analysis, at Lendingkart’s affiliated NBFCs, is done digitally to ensure loan disbursement in less than 72 hours, even in semi-urban and Tier-II cities. This association with Lendingkart will help SmartShift to offer additional value to its customers and partner with them in growing their businesses.
Source: The Economic Times